GBP/USD 04.10.2016 H4 chart.
Downtrend and strong downward impulse after UK prime minister comments to trigger Article 50 by April 2017.
Pound is under serious pressure after number of sellers is still growing.
Probable correction and increased volatility at 11:30 when Construction PMI from UK is released.
We can use the volatility to enter around 1.2815
Price below diagonal and horizontal resistances.
CCI(50) and DeM(14) are in strong negative territory.
SL: 1.2885
Alternative scenario: Break above 1,2850 will make test of the upper diagonal resistance more likely.
Jr. Trader Nikolay Georgiev
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